CLARITY Crypto Bill Nears Senate Failure as 7 Democratic Votes Stay Out of Reach
Updated
Updated · Forbes · Aug 3
CLARITY Crypto Bill Nears Senate Failure as 7 Democratic Votes Stay Out of Reach
3 articles · Updated · Forbes · Aug 3
Summary
60 Senate votes are required for CLARITY, but Republicans hold 53 and still lack the seven Democrats needed as ethics talks remained unresolved by Monday.
Wednesday is effectively the last day to file cloture before the recess, and even a Friday vote would only open floor debate rather than pass the crypto market-structure bill.
July 22 draft revisions failed to win over seven Democrats, who demanded tougher ethics, consumer-protection and illicit-finance rules, with Trump's crypto ties becoming the hardest political obstacle.
Polymarket now puts the bill's odds of enactment this year near 30%, down from 82% in February, as lawmakers face a short September window and then midterm-driven floor-time pressure.
If CLARITY dies, the industry would remain reliant on Trump-era SEC and CFTC interpretations that can be reversed, though Bernstein expects any crypto market selloff to be short-lived.